This follows a letter sent last week by the defendants – NFC and others – to the Attorney-General’s Chambers for “a global settlement”.

NFC’s lawyer, K Kirubakaran, informed judicial commissioner Anand Ponnudurai during proceedings today that his client had sent a proposal for the government’s consideration to end the legal battle.

“We want the matter resolved with a view towards a global settlement,” he told FMT when contacted later.

Senior federal counsel Azizan Md Arshad confirmed with the judge that there was  correspondence through a letter with the government.

Anand then adjourned the hearing to tomorrow for the parties to update him on the latest development.

The trial began in 2020 with the government producing seven witnesses while the defendant had one.

NFC, its chairman Mohamad Salleh Ismail, who is the husband of former Wanita Umno chief Shahrizat Abdul Jalil, their three children and six companies owned by the family were named the defendants in the suit, filed in June 2019.

The total of RM253.62 million claimed against NFC and Salleh’s family represents the sum owed to the government, together with interest at 2% per annum and default interest on RM224.77 million.

Putrajaya is also seeking a declaration to hold Salleh’s family personally liable for the debt repayment of RM118.04 million allegedly misappropriated from the loan.

It said it is also entitled to claim equitable titles to the properties bought using NFC’s RM250 million loan from the government.

The Auditor-General’s Report 2011 exposed the scandal surrounding NFC along with the involvement of Shahrizat’s family in the project.

Shahrizat stepped down as women, family and community development minister in April 2012.

In 2007, the government approved a RM250 million loan to NFC to turn the local cattle industry into a large-scale business with the aim of helping Malaysia become self-sufficient in beef production.